Replies to post #317 on Leatt Corporation, Inc. (LEAT)

[rollem]

Uh yeah right. That would be gross profit before all expenses except cost of goods. The operating income was 6.6mm
which is phenomenal as well. The 2.7mm "fair value" adjustment for the preferred stock will take some serious looking into. The bottom line after tax and "adjustments" was 1.984mm, which was a ton less than they had advertised, although still not horrific. 2 pennies a share for a 12 penny stock is about right given that there is no transparancy or ability to see how their growth is progressing. It is wicked troubling but maybe not a problem that they pay related companies to do all this work for them.
Seems to be very conflicted. Certainly not shareholder friendly. But as I say, too early to say if that is a real problem or just a start up company doing what they can to keep expenses down.

No numbers for 08 yet so clearly they are not able to be a fully reporting company which means they stay on a bs exchange for a while.

Good first effort from the company if very late but will require answering some serious business questions to see if this is more than just a way for the principals to pad their own pockets at shareholder expense. Be interesting to see if they make any kind of public presentation.